Bitcoin Surges to $28,533: New All-Time High

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Wed, 12/30/2020 - 07:38

Yuri Molchan

World's biggest cryptocurrency has reached another all-time high this week – now, BTC has hit the $28,500 area

Bitcoin Surges to $28,533: New All-Time High

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CoinMarketCap has shown that the king crypto has spiked to another all-time high, reaching $28,533.

The previous ATH equaled $28,337 three days ago. Bitcoin's market cap now totals an eye-popping $528,410,897,055.85 (a rise by 8.13 percent over the past 24 hours) with the market cap of the Visa giant far behind.

Key Factors That Drove Bitcoin to New $28,377 ATH Throughout 2020

BTC dominance is 70.17 percent, as per CoinMarketCap. The massive BTC rally this fall and winter has been caused by numerous factors, with financial institutions' hunger for Bitcoin as a safe haven (Grayscale now holds $19 billion worth of Bitcoin and other cryptocurrencies) and the XRP collapse due to the SEC lawsuit among them.

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About the author

Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.